US Crypto Week kicks off with 'Dictator' stablecoin amendment on the table

Key Points

1. The House Committee on Rules will discuss the Anti-CBDC Surveillance State Act, the CLARITY Act, and the GENIUS Act during 'crypto week'.

2. The GENIUS Act, a Republican priority, aims to establish regulatory clarity for stablecoins and has bipartisan support.

3. Democratic lawmakers criticize the bills as being overly influenced by the crypto industry, citing potential conflicts of interest.

4. An amendment to the GENIUS Act proposes blocking US presidents and vice presidents from issuing stablecoins, possibly referencing El Salvador's President Nayib Bukele.

5. Republican Representative Warren Davidson proposed a provision ensuring individuals' lawful custody of digital assets, mirroring language in the CLARITY Act.